We are gearing up for a busy autumn, and our figures indicate that Dublin house prices will have risen by 25 per cent by the end of the year. There will be great activity in September/ October, there are good stock levels for September/October, but after that, if supply dries up too early, prices will go up again. One factor that is making a difference to the market is the issue of commuting and people's perception of quality of life. People are far more conscious of drive-times and public transport opportunities than ever before, and access to motorways is now a big consideration for house-hunters. Pre and post-war houses in suburbs close to the centre are doing extremely well again, because of their convenience. People are now prepared to pay a premium if it's going to improve their lives. Looking at areas that are going to appreciate, I would say that Castleknock is one area that has some way to go price-wise. You can drive through the park from there and you are in the city. On the northside, there has been a big change in demand. People who are finding Clontarf too expensive are now looking to areas like Donnycarney that have been underestimated until now. There is a lot of scope for appreciation in Marino and Fairview, again because they are so close to the city centre. There is a definite trend of people moving out of Dublin.

In an analysis of sales that we did through our regional partners, we found that 20 per cent of buyers have relocated from Dublin. We see room for growth in Cork, Galway and Limerick and we have heard of people moving back to Ireland who are deciding to bypass Dublin altogether and move to these other cities.